RIYADH: Retail investors can subscribe to buy some of the 10.02 million shares being offered in the Saudi Telecom Company on Tuesday Dec. 7 and will end on Dec. 8.
The company will allocate 10 percent of the offering to retail investors while the remaining 90 percent, representing 90.18 million shares, will be allocated to institutional investors.
The number of retail investors’ shares and the share ratio will be announced after completing the book-building process and announcing the final offering price.
The offering comprises a fully marketed secondary public offering of 100.2 million shares in stc, representing 5.01 percent of its share capital owned by the Public Investment Fund.
The price range has been set between SR100 ($26.66) and SR116 per share.
The PIF and stc announced the launch of a secondary public offering of stc’s ordinary shares on Dec. 5.
Institutional investors’ subscription began on Dec. 5, and will continue until Dec. 9.
